How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

^[PDF] Building Reserves to Prepare for a Recession

Problem • Spending reductions • Revenue increases • Cost shifts Budget reserves Tools to Prepare for a Recession Actions to Take During a Recession gutter 2 0 1 8 - 1 9 B U D G E T 3 INTRODUCTION In his 2018-19 budget plan, the Governor proposes a total reserve balance of nearly $16 billion, including a discretionary deposit of $3.5 billion into the state’s rainy day fund.
https://lao.ca.gov/reports/2018/3769/prepare-for-recession-030718.pdf

^[PDF] HMOs and Rural California

In those rural areas where these steps are not enough to attract HMOs, we identify ways com- munities can develop their own health care sys- tems based on the experience of one rural California county. ■ August 8, 2002 2 L E G I S L A T I V E A N A L Y S T ’ S O F F I C E A N L A O R E P O R T INTRODUCTION How and Why the LAO Conducted This Study Chapter 208,
https://lao.ca.gov/2002/hmos_rural_ca/8-02_hmos_rural_ca.pdf

^[PDF] Performance Budgeting Pilot Project

. ~ Proposed measures do not, for the most part, allow the Legislature to evaluate the DPR's progress from one year to the next with much consistency, because of the absence of baseline data or performance com- mitments which are good for only one year. ~ The administration's 1996-97 goal to have the DPR's entire program expressed in terms of budgeted funds and results is
https://lao.ca.gov/reports/1995/performance_budgeting_pilot_project_(s)_subcommittee_2.pdf

^[PDF] Economic and Budget Developments

The Gov- ernor also deleted $26 million from the com- munity colleges earmarked for program im- provement, and set aside the funds for other purposes, consistent with Proposition 98 fund- ing requirements.
https://lao.ca.gov/reports/1996/update_california_7-1996.pdf

^[PDF] Oversight of Budget Reserves

A statutory, general purpose reserve established in 2018, which was only briefly funded. L E G I S L AT I V E A N A LY S T ’ S O F F I C E 2 How Proposition 2 Works a Amount reduced by “Proposition 98 increment.”
https://lao.ca.gov/handouts/state_admin/2024/Budget-Reserves-Overview-080624.pdf

^[PDF] May 8, 2000 The 2000-01 Senate Budget Bill SB 1344 (Peace) As Adopted by the Budget and Fiscal Review Committee

(continued) 2 L E G I S L A T I V E A N A L Y S T ’ S O F F I C EMay 8, 2000 2000-01 Budget Bill Major Provisions General Fund (Continued) Issue Governor • Provides $290 million General Fund for com- munity mental health treatment. • Set aside funds for in- creased mental health treat- ment services. • $200 million cost.
https://lao.ca.gov/2000/050800_senate_floor_packet.pdf